Royal Bank Of Canada Has Lowered Expectations for SBA Communications (NASDAQ:SBAC) Stock Price

SBA Communications (NASDAQ:SBAC) had its price target trimmed by Royal Bank Of Canada from $255.00 to $235.00 in a report released on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

Other research analysts also recently issued reports about the company. Scotiabank started coverage on SBA Communications in a report on Thursday, July 17th. They issued a “sector perform” rating and a $252.00 target price on the stock. KeyCorp reduced their target price on SBA Communications from $280.00 to $235.00 and set an “overweight” rating on the stock in a report on Wednesday, September 17th. Barclays reduced their target price on SBA Communications from $257.00 to $226.00 and set an “overweight” rating on the stock in a report on Monday, September 15th. UBS Group boosted their target price on SBA Communications from $280.00 to $285.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Finally, Bank of America downgraded SBA Communications from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $260.00 to $230.00 in a report on Wednesday, August 27th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $249.07.

SBA Communications Trading Down 0.0%

SBAC stock opened at $191.70 on Thursday. SBA Communications has a 1-year low of $186.81 and a 1-year high of $252.64. The firm has a market cap of $20.58 billion, a P/E ratio of 24.36, a P/E/G ratio of 1.81 and a beta of 0.82. The business’s 50 day moving average is $209.26 and its 200-day moving average is $221.84.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, August 4th. The technology company reported $3.17 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.07. SBA Communications had a negative return on equity of 16.83% and a net margin of 31.19%.The company had revenue of $698.98 million for the quarter, compared to analyst estimates of $670.73 million. During the same period in the prior year, the company posted $3.29 EPS. The company’s revenue was up 5.8% compared to the same quarter last year. SBA Communications has set its FY 2025 guidance at EPS. Sell-side analysts forecast that SBA Communications will post 12.57 EPS for the current year.

SBA Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 21st were issued a dividend of $1.11 per share. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $4.44 annualized dividend and a yield of 2.3%. SBA Communications’s dividend payout ratio is currently 56.42%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SBAC. CWA Asset Management Group LLC bought a new stake in shares of SBA Communications during the 1st quarter valued at $302,000. GAMMA Investing LLC raised its position in shares of SBA Communications by 38.6% during the 1st quarter. GAMMA Investing LLC now owns 1,684 shares of the technology company’s stock valued at $370,000 after acquiring an additional 469 shares during the last quarter. Praxis Investment Management Inc. bought a new stake in shares of SBA Communications during the 1st quarter valued at $290,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of SBA Communications by 14.1% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,300 shares of the technology company’s stock valued at $3,146,000 after acquiring an additional 1,769 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its position in shares of SBA Communications by 11.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 6,084 shares of the technology company’s stock valued at $1,339,000 after acquiring an additional 608 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

About SBA Communications

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.